Fuel definition
Examples of Fuel in a sentence
Upon such termination Owners shall reimburse Charterers with any hire paid in advance and not earned, the cost of bunkers or bunker reconciliation cost (as the case may be), and the value of any Heel on board the Vessel, valued respectively at the Fuel Price and the LNG Price, and any other amount for which Owners are, or are estimated by Charterers to be, liable to Charterers under the terms of the charter.
Where the Achieved Speed is lower than the Ordered Speed the Guaranteed Fuel Consumption will be calculated based on the Achieved Speed.
Guaranteed Fuel Consumption: the contractual maximum daily tonnes of Fuel that may be consumed by the Vessel which are to be used in, and as, calculated in accordance with Article 4 of Appendix A (Performance Calculations).
Liquid Fuel Bunkers Charterers shall accept and pay for all Liquid Fuels on board at the time of Delivery, valued at the Fuel Price at Delivery, and Owners shall upon Redelivery (whether it occurs at the end of the charter or on the earlier termination of this charter) accept and pay for all Liquid Fuels remaining on board, valued at the Fuel Price at Redelivery.
In the case of excess Boil-Off for which Charterers are unable to make any claim under Article 4 above, such as where mass-flow meters or other equipment has failed, or where Owners are deemed to have complied with the Guaranteed Fuel Consumption obligations but there is an excess Boil-Off quantity unaccounted for in a given Performance Period, then Charterers may deduct from hire due under Clause 37 (Hire Payment and Deductions), an amount calculated by applying the LNG Price to such excess.